Trinamool Hails GST Exemption on Insurance as People’s Victory
The Trinamool Congress celebrated the GST exemption for life and health insurance as a triumph for ordinary citizens, claiming it was forced from an unresponsive government. Finance Minister Nirmala Sitharaman announced the exemption during the 56th GST Council meeting, marking a significant policy shift.
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The Trinamool Congress lauded the Indian government's decision to exempt life and health insurance from GST, calling it a win for the common people. The party argued that the government's reversal was due to mounting pressure and criticism from the public.
Finance Minister Nirmala Sitharaman unveiled the exemption after the 56th GST Council meeting, indicating a substantial policy change. This development exempts all individual life insurance policies, including term life, ULIP, and endowment policies, from GST.
Highlighting the rollback as a significant victory, the Trinamool Congress stated that the Narendra Modi government succumbed to pressure. The party vowed to oppose further anti-people measures, both in Parliament and in public forums.
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